INNOVATION IN ACCOUNTING
Get the best accounting advice, Xero tips, and business growth support delivered directly to your inbox.
A recent VAT Tribunal had to decide whether two hairdressing businesses should be treated as a single business for the purposes of VAT registration. The distinction was critical as the two separate businesses were operating below the registration limit (currently...read more
In order for an expense to be deductible against business profits it must be incurred “wholly and exclusively” for the purposes of the trade. In a recent tax case a hotel owner near Silverstone sponsored his grand-daughter’s career as a racing driver by making...read more
These are the suggested reimbursement rates for employees’ private mileage using their company car from 1 June 2017. Where there has been a change the previous rate is shown in brackets. Engine Size Petrol Diesel LPG 1400cc or less 11p 7p 1600cc or...read more
The result of the General Election has left Teresa May and the Conservative Party clinging on to power with support from the Democratic Unionist Party (DUP) in Northern Ireland. This leads to a period of significant uncertainty for the country as the BREXIT...read more
The majority of online self-assessment tax returns are submitted by accountants – and for good reason
Research has revealed that a majority of taxpayers choose their accountant to file their tax returns on their behalf, with 65% instructing an accountant when dealing with online tax returns. This highlights the vital role that accountants continue to play in guiding...read more